Being an expat translates to managing various financial conditions and practicing other forms of money usage, including currency and banking. 

If you are a new expatriate or have been living outside the country for many years, you may find yourself tied in managing your finances. For expats’ convenience, Western Union offers various services, making it easier and faster. 

Below are five essential ways that every expatriate should consider while managing their money through Western Union.

1. Send Money Back Home with Ease

All expats are required to send money to family and friends back home. Whether you want to support your friends and families or invest in your business abroad, an efficient mode of transferring money is vital.

Western Union is the best way to send money from canada to us or any other country. The service provides fast and cheap transfers, with clear price information and some of the best rates on the market. 

You can pay through online remittance, using the mobile application, or by visiting the agent. This flexibility enables you to transfer money quickly, no matter where you are. Hence, your family or loved ones will get the much-needed financial assistance.

2. Manage Currency Exchange Rates

Expats living in a foreign country must know the exchange rates significantly affect one's financial status. Such rates impact the amount received or to be paid out because costs can go up or down. Expatriates necessitate competitive exchange rates across multiple currencies.

Western Union offers a lock-in service at the exchange rates before transferring money. This means you can negotiate and lock in favorable rates in advance for your transactions. Therefore, you should cushion yourself against any fluctuations in market price. 

Its real-time currency exchange tool can also empower you to check its rates before transferring money and get the best rates. 

3. Pay Bills and Manage Local Expenses

Overseeing your spending on day-to-day basics is sometimes a chore or even impossible. This is especially true when you need access to an account from a local bank, or the banking system is new to you. Other expenses, such as Paying bills, rent, or utilities in a foreign country, will also look complicated.

Western Union is a money transfer service that also provides bill payments in several countries. So you can pay your utilities, rent, or other routine bills without having a local bank account. Also,  by using Western Union’s official website or mobile app, you can easily manage your payments without any worry or stress.

4. Use Prepaid Cards for Local Spending

Carrying large amounts of money or using cash is not safe at all, especially if you live in a different country. Prepaid cards are secure and easy to use to meet your various daily expenses.

Through Western Union, expats can get a prepaid card, which can be used locally for purchase, whether online or physically. 

You do not have to carry cash on hand and worry about the rate of exchange each time you need to make a purchase. Besides, most of the cards can be recharged. Therefore, you have the power to determine how much you want to spend.

5. Keep Your Financial Information Secure

For an expatriate, it’s crucial to protect your financial operations, which include transferring cash over the Internet. During these operations, issues about cybersecurity and fraud are always evident.

Western Union puts into practice state-of-the-art encryption and fraud prevention measures to secure your personal and financial details. 

They also provide their customers with round-the-clock customer service and transaction monitoring in real-time. It greatly enhances safety and comfort when using your money in foreign countries.